Pinnacle Wealth Management Advisory Group LLC increased its stake in Amgen, Inc. (NASDAQ:AMGN) by 5.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,622 shares of the medical research company’s stock after acquiring an additional 240 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Amgen were worth $900,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Acadian Asset Management LLC lifted its stake in shares of Amgen by 48.9% in the 3rd quarter. Acadian Asset Management LLC now owns 4,577 shares of the medical research company’s stock valued at $949,000 after purchasing an additional 1,503 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Amgen by 14.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 321,243 shares of the medical research company’s stock valued at $66,592,000 after purchasing an additional 41,434 shares during the last quarter. Accuvest Global Advisors acquired a new stake in Amgen during the third quarter worth approximately $392,000. Financial Gravity Wealth Inc. lifted its position in Amgen by 9.3% during the third quarter. Financial Gravity Wealth Inc. now owns 3,825 shares of the medical research company’s stock worth $720,000 after acquiring an additional 327 shares during the last quarter. Finally, First National Trust Co increased its holdings in shares of Amgen by 1.3% during the third quarter. First National Trust Co now owns 42,354 shares of the medical research company’s stock worth $8,780,000 after purchasing an additional 552 shares during the period. Institutional investors and hedge funds own 78.13% of the company’s stock.
In related news, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $188.88, for a total transaction of $377,760.00. Following the sale, the director now directly owns 14,988 shares in the company, valued at approximately $2,830,933.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.
AMGN traded down $0.56 during midday trading on Thursday, reaching $186.79. The company had a trading volume of 488,110 shares, compared to its average volume of 2,657,846. The company has a quick ratio of 2.57, a current ratio of 2.79 and a debt-to-equity ratio of 2.36. The stock has a market cap of $117.12 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 2.25 and a beta of 1.21. Amgen, Inc. has a 12-month low of $163.31 and a 12-month high of $210.19.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, January 29th. The medical research company reported $3.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.26 by $0.16. The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. Amgen had a net margin of 35.35% and a return on equity of 66.74%. During the same period in the previous year, the company earned $2.89 earnings per share. As a group, sell-side analysts anticipate that Amgen, Inc. will post 13.97 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is currently 40.28%.
A number of analysts have weighed in on the stock. Goldman Sachs Group reaffirmed a “buy” rating and set a $232.00 target price on shares of Amgen in a research note on Tuesday, December 4th. Barclays reiterated a “neutral” rating and set a $195.00 price objective on shares of Amgen in a report on Tuesday, December 4th. Cantor Fitzgerald reissued a “neutral” rating and set a $223.00 target price on shares of Amgen in a research report on Tuesday, December 4th. JPMorgan Chase & Co. set a $192.00 target price on shares of Amgen and gave the stock a “neutral” rating in a research report on Tuesday, December 4th. Finally, Royal Bank of Canada reissued a “neutral” rating and set a $182.00 target price on shares of Amgen in a research report on Tuesday, December 4th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $208.78.
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Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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